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The estimate is net of its per-occurrence reinsurance program and gross of tax. -
The role at PCS included acting as primary touchpoint for ILS.
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But cat bonds are experiencing negative secondary market price movement.
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The agency said it does not expect a “material impact” from the charge.
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Guy Carp CEO Dean Klisura said LA wildfires could slow rate reductions at 1 April.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
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The industry loss number has increased threefold from an initial $5bn pick.
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Losses from the larger fire will amount to $20bn-$25bn, the modeler said.
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Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
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Severe convective storms accounted for 41% of last year’s insured loss load.
